Friday, March 6, 2015

Financial News Round up ( March 6 , 2015 ) -- Japan BOJ wary of Dire Consequences of QE - Mutiny at BOJ ? China entering currency wars ? Euro falls below 1.10 the day after the ECB Meeting to roll out QE ....... Capital Controls ( Comparing Cyprus and Iceland ) .... Eurogroup on March 9 next chapter for Greece in its extension talks with Creditors ...... Russian Ruble recovers to below 60 on stable oil and less tension with Ukraine situation.....

Evening Tweets ......

Mish's Global Economic Trend Analysis: No, No, No Says Draghi to Greece; Spanish Economy Minister Insists via

Ukrainian MP report US counterparts told them they can not supply weapons because Putin said,he would take in that case.

Odd maths in Greek proposal on free food. Says €100/family/month for up to 300k families for 9 months costs €137.7m. But 100x300kx9=€270m

Every German Bund Will Soon Trade At -0.20%, Citigroup Predicts

Greece Proposes To Become A Tax-Collecting Police State; Quietly Requests Third Bailout (But Don't Call It That)

Greece estimates that of the €76 billion in total tax arreas, only €8.9 billion are collectable - Varoufakis letter

Taste of new letter to : among proposals hiring tourists as undercover tax inspectors

Morning Tweets....

Americans Not In The Labor Force Rise To Record 98.9 Million As Participation Rate Declines Again


Meanwhile, the euro is below 1.09!

DB: The focus now switches to FinMin Varoufakis’ presentation of reforms to the Eurogroup on Monday

DB: The risks with remain high despite the agreement to extend the current programme

Deutsche Bank: The ball is in 's court (ELA). There will be no access 2 money w/out Gr implementing econ+fisc adjustments and reforms

Head of Ukraine's National Bank refuses to resign voluntarily

Despite denials I'm told new letter to asks for talks on "follow-up arrangement"

Don't silence Yanis! RT : Tsipras says has asked Greek ministers for fewer words, more action, including Fin Min Varoufakis - RTRS

's Tsipras tells Spiegel he wants to issue more short-term debt. If ECB doesn't agree to this, they are assuming great responsibility

RT : PM Tsipras says still has "rope round our neck" - RTRS

EURUSD < 1.095

Just realised this tweet left out v key word: "It will NOT be a super duper long ," said official

URGENT: Car allegedly carrying batallion comander explodes in Kharkov, E.

Russia’s international reserves plummet by $16 billion in February — central bank

Ruble strengthens vs Dollar to sub-60 on stable oil & lower geopol tensions, rallying from yr’s lows of 71.81

Juncker snubs Tsipras meeting request over cash woes. Govt unable to pay all civil servants in Feb. via

Cash-strapped repays first part of loan due in March

slips to fresh 11yr Low. Acc to Citi there’s no obvious reason other than continuation of well-accepted trend.

RT : : 1 could envisage further extension of loan maturities4 , as was hinted @ in Eurogroup stat of Nov 2012

RT : CEO Klaus in interview: will have to repay its loans in full

Peripheral Bond yields make fresh Euro-Era lows ahead of ECB QE. 10yr Portugal ylds at 1.7%, Spain 1.24%, Italy 1.26%

enters currency war: Jump in FX intervention suggests PBoC's high intervention activity

parity predictions reignited by Draghi’s push. RBS, Barclays, ING expect Euro to drop to $1 as soon as this yr.

Mutiny At The BoJ: Board Member Warns Of "Dire Consequences"

Cyprus and Iceland: a tale of two capital controls | A Fistful Of Euros